Data Types in Statistics What is Data? We can say any piece of information is Data. Data is units of information in structured or unstructured format. Data available in different kind. Examples: Collection of relevant tweets, Records of yield in a farm over a period, Records of stock price every minute, Records of performance of a sports person. In general, there are four types of data. 1.Time Series Data 2. Cross sectional data 3. Pooled Data 4. Panel Data Time series data: Time series data is the set of observations on a variable at different timepoints. It is a collection of quantities that are assembled over even intervals in time and ordered chronologically. The data may be collected daily, weekly, monthly. Below image shows sample time series data Sample Time Series Data Cross-sectional data: Cross-sectional data are set of observations on two or more variables at the same time point. This data analysis is when you analyze a data set at a fixed point in time. The ...